The Streaming Giant: 15 Stellar Netflix Statistics in 2024

Netflix is one of the world's biggest and most well-known streaming service providers. The streaming giant amassed a 94% brand awareness rate in the United States alone.

In 2020, the platform already had 201 million subscribers despite having competitors such as Amazon Prime, Disney+, Hulu, YouTube, HBO Max, and more. 

These numbers signify how Netflix maintained its regard and influence in the streaming media, video-on-demand, and entertainment industries. 

This article will review the platform's impressive streak, highlighting the increasing demand and popularity of Netflix. Get every Netflix stat you need from current streaming numbers, viewership, user-based consumption, audience demographic, revenue, and overall reputation. 

How Many People Use Netflix in 2023?

As of Q2 2023, the multi-billion streaming platform Netflix received 238.39 million paying subscribers. This number marks a 5.89 million increase in subscribers from the first quarter of the same year. The success of the streaming platform is due to the following:

• Robust marketing techniques
• High-quality movies with famous actors and actresses
• Original shows from awaited stories
• User-convenient design 

The upcoming sections contain all the essential Netflix statistics for 2023, demonstrating the platform's remarkable success.

Netflix Streaming Statistics 

Netflix is a tough competitor among all streaming platforms. 2022 data reveals that Netflix and Hulu have the same 19% TV show demand share, topping all streaming networks. The two platforms exceeded HBO Max, which only had an 11.5% share. 

The escalating need for wireless networking pushed by the pandemic opened opportunities for growth in Netflix. Below are record-breaking streaming statistics of Netflix from viewers, minutes viewed, and revenue. 

1. Netflix currently has approximately 692 million viewers worldwide. 

(Bankmycell, Statista)

The platform's current number of viewers signaled a 6% growth from 2022, with an additional 37 million viewers. This increase shows how the platform's continuous progress and advancements reinvented the video streaming industry. 

Netflix has maintained its position as the groundbreaking subscription-video-on-demand provider. It is estimated to reach 725 million in 2024, nailing a 3 to 5% annual growth. 

2. 2021 data on US video subscription revenue shows Netflix had a 30.8% share of all over-the-top (OTT) providers.

(eMarketer, Similarweb)

Netflix is one of the leading platforms for OTT services, providing content to its consumers, along with YouTube and Disney. In 2021, records show that the three top providers earned 69.3% of the total OTT subscriptions in the US.

A survey from Similarweb recorded 29.92 billion website visits from Netflix. However, the platform declined in 2022, accumulating a 22.4% revenue share in all OTT service providers in the US. Various reasons caused the decline, one being the inflation rate in the country. 

The global streaming software market is expected to grow by 12.1% CAGR between 2022 and 2028, driven by rising video consumption, indicating potential growth in the video industry.

3. Adult Netflix subscribers in the US spend an average of 62 minutes daily on the platform. 

(eMarketer)

The platform surpasses other over-the-top streaming service providers in minutes spent by subscribers. Netflix exceeded Hulu, which follows with an average of 53 minutes. Due to the pandemic, the platform remained among the top three most-viewed streaming platforms in 2021. 

Netflix kept its hold on the subscription market in the United States with a 2.7% cancel rate (churn rate) in December 2020. Meanwhile, Disney+ reported a 4.6% churn rate, and Hulu had 5.7%. 

A survey from the fourth quarter of 2022 revealed that budget was the topmost reason for canceling subscriptions on various platforms. 45% of households canceled their subscriptions due to their income being affected by the pandemic. Limiting the budget was the reason for 39% of the unsubscribers. Only 17% said that they wanted to change services. 

Netflix Viewership by Show 

Netflix is home to some of the world's most well-known and critically acclaimed movies and series. Its library offers an array of genres, from romance and horror to documentaries. In the UK alone, there are about 7,482 titles available on Netflix.

The network is also widely known for its original shows and movie adaptations. These productions are called "Netflix Originals,” most are from the following:

• Sought-after novels
• True stories
• Comics

The most popular shows on Netflix demonstrate the platform's acclaim in the film-making industry. Dig deeper into the most viewed Netflix series below.

4. DEPP V HEAR: Limited Series had 39.5 million hours viewed in August 2023.

(Netflix) 

The three-episode limited series claims #1 August 2023’s Netflix Top 10 with 16.2 million views. The series documented the public defamation trial case between two famous actors. 

The case was controversial, but making it a show and how the production handled it added to the buzz. Despite its many views, the documentary and the director received negative criticism from the media. Some say that the series was a "wasted opportunity, "superficial," and treated the two actors "like zoo animals." 

5. Stranger Things: Season 4 received an epic 1.3 billion hour views in its first 28 days. 

(Statista, Statista, Statista)

Stranger Things: Season 4 was Netflix's most-watched English series in 2022. It was also the most popular original TV series that year, with 52 billion minutes of streaming.

These figures are the fruits of the platform's extensive investments in the series. Netflix spent approximately $30 million per episode, making it the most expensive show on the platform. 

The American sci-fi mystery drama encapsulates a variety of genres in one, making it appealing to the audience. It had also successfully employed a mixture of established and rising stars like: 

• Winona Ryder
• Millie Bobby Brown
• Maya Hawke

6. Tim Burton's Wednesday hit the charts with 252.1 million views in 91 days since its release.

(Cosmopolitan, Statista)

Wednesday, a spin-off from the original Addam's Family, had more views than Stranger Things in its first 91 days. Still, it falls second in the leading US TV series with 1.24 billion hours streamed. 

The series surpassed Dahmer–Monster: The Jeffrey Dahmer Story, with over 856 million hours viewed. While Bridgerton Seasons 1 and 2 occupied 4th and 5th place with over 600 million views, respectively. 

The dark comedy series had the fresh touch of the current society's sensibilities and the nostalgia of the original Adam's family. Social media boosted the show's vast recognition, with some iconic scenes going viral, such as Wednesday’s dance and the fencing scene with Bianca Barclay. 

Statistics on Netflix Usage 

One notable feature of Netflix is creating multiple profiles using one subscription. A Netflix account can have up to 5 profiles, each with preferences for movies and show recommendations. 

The company set up four plans to choose from. The premium subscription, which is also the most expensive, can cater to 4 streaming devices at the same time. With the new passcode policy, only two of the four have the feature that allows an extra member slot for additional fees. 

Netflix's interface and design are a few reasons for its immense popularity. To discover more, check out the following Netflix usage statistics discussed in this segment.  

7. Netflix's Android mobile app obtained 106 million monthly active users in January 2022.

(Statista)

The streaming platform experienced a 3% increase from December 2021 data, which amounted to 103 million monthly active users. It also accumulated 115 million MAU as of June 2021 from iPhone and iPad devices. 

Aside from producing high-quality shows, mobility and accessibility are two reasons that contributed to the platform's huge success. Its vast selection of relatable and engaging content appeals to its audience, driving the number of active users.

 8. About 41% of Netflix users are not paying subscription fees. 

(Comparitech, Netflix, 99 Firms)

The network stated that over 100 million households share a single account. According to a survey, 52.5% of Netflix subscribers shared their account information with people outside their homes. This percentage raised concerns for the company, pushing the network to update its password-sharing restrictions. 

The updates report that Netflix has employed its new one-account-one-household policy. Still, users outside the household can share the account by paying for additional profiles. The new policy sparked unfavorable reactions from subscribers, with a portion planning to opt for subscription cancellation. 

9. As of 2022, Netflix had a 14.93% rate of downstream internet traffic by application. 

(Sandvine)

Netflix is among the platforms that dominated internet traffic in 2022. The platform had 13.74% total app volume and 8.78% upstream traffic. 

The network, with Microsoft, Alphabet, Meta, Amazon, and Apple, accounted for 48% of the internet traffic in the first half of 2022. This rate is almost half of the internet traffic, showing these networks' massive influence.

Consumers’ demand for video content is the most significant reason behind these data, as video production covers 65.93% of the total internet volume. This substantial size drives streaming platforms like YouTube, Amazon Prime, and others to get higher traffic.  

Netflix User Demographics 

Netflix viewers live across nations from different backgrounds. The entertainment provider continues to broaden its domain, making itself available to more than 190 countries. 

Netflix subscribers have 62 languages to choose from. Depending on the region, country, and even age profile, the platform offers a specific catalog of shows and movies.

Dive into a deeper inspection of the Netflix user population and their characteristics. 

10. Netflix has around 79.81 million paying subscribers across Europe, the Middle East, and Africa. 

(Statista)

As of the second quarter of 2023, EMEA comes first in number of paying subscribers., surpassing the US and Canada. There is a high market demand for Netflix in the three regions mentioned, and the network started doing more productions from these areas beginning in 2018, with an additional 100 projects.

The US and Canada have 75.57 million subscribers despite covering only two countries. The two have surpassed Latin America with 42.27 million paying subscribers and Asia with 40.55 million. 

As the platform’s founding country, the US highly influenced its subscriber base. Netflix’s availability greatly impacted Asia’s numbers as the platform is not allowed in countries like China and North Korea.

11. 75% of 18 to 34-year-olds have subscribed to Netflix in the US. 

(Statista)

The network's catalog caters to all, but most appeal to the younger audience–ultimately impacting the results. Meanwhile, the age bracket 35-44 follows with a 72% subscription rate. 

Surprisingly, older generations, such as Generation Jones, still reported a high 56% user rate. The 65 and up bracket comes last, with 44%. These results show how the platform is relevant to people of all ages. 

12. Regarding gender, females account for 52% of Netflix users.

(Bankmycell, Netflix)

Netflix has almost a fair share of male and female subscribers–with males covering 48%. A 2022 survey also revealed that both genders are on par with each other regarding frequency of use. Roughly 10% of all respondents are using the accounts once daily. 

Although numbers show that the platform remains relevant to both genders, recent studies have yet to capture the records of users of other genders in the spectrum. With multiple queer and gender-diverse productions, Netflix succeeds in forming a connection to the present society. 

Netflix Industry Market 

Netflix is among the streaming industry's trailblazers regarding market share and generated revenue. Still, they trailed behind Amazon Prime in 2023 only by 1%. As of Q2 of 2023, Netflix had a 20% market share in the selected subscription video-on-demand (SVOD) in the United States. Meanwhile, Amazon Prime has 21%.

Despite the 2022 slump, Netflix maintained its reputation as an established streaming platform. Below are the market and revenue statistics to further exhibit the platform's stronghold in the industry. 

13. As of August 2023, Netflix has a towering $180.32 billion market capitalization. 

(Companiesmarketcap)

After a rough ride in 2022, with a 37.42% increase in market cap, Netflix got back on its feet. The platform's highest market cap was in October 2021, reaching $305.77 billion. The current stats make Netflix the 60th most high-priced business market capitalization in Companies Market Cap data.

In May 2022, it experienced a massive drop. The decline resulted in an $82.79 billion market cap, a 50.94% decrease from the 2021 end year's $267.46 billion. Netflix was one of many streaming companies that struggled in the same year. 

More competition exists as people become choosier with their subscriptions, and inflation is high. These factors caused a decline in the streaming industry's subscriber growth and advertising market.

14. Netflix earned $8.19 billion in revenue in Q2 2023. 

(Statista, Statista, Statista) 

Netflix’s revenue increased by $220 million, compared to 2022’s revenue of $7.97 billion. In APAC alone, the platform has already earned 3.57 billion. In 2022, Netflix invested $20 billion in content assets, generating an annual revenue of $31.6 billion. While the increase may be smaller than the network hoped, the numbers grew steadily. 

The company's net income had been affected by its subscriber-based numbers. It also expects a possible hitch with the new passcode-sharing policy in 2023. However, it remains confident due to its numerous current and upcoming marketable original content, including:

• Bridgerton Season 3
• The Crown Season 6
• Squid Game Season 2

15. The net income of Netflix in 2022 amounted to almost $4.5 billion. 

(Statista, Macrotrends)

Netflix's net income in 2022 fell by 12.20%, approximately $600 million from its previous year. In 2021, it amassed $5.116 billion in revenue. 

In 2022, the network faced challenges due to several factors, including reduced travel restrictions and less indoor time. One major factor contributing to the platform's lower net income was a decline in user numbers. 

Netflix had a considerable loss of 200,000 customers in the first three months of the year. Canceled Netflix shows also contributed to more reasons for customers to unsubscribe

Final Thoughts

Netflix has gone a long way since its establishment as a video rental company in 1997. Over the years, it has shown its capability to adjust and adapt to the present time. One prime example is its utilization of the fast and growing demand for digital content and the internet. 

As time passed, the network gradually became a trendsetter in the film industry. Its library is a collection of the past and the present, making the network marketable to all generations. Despite experiencing a decline in numbers, Netflix managed to persist. The statistics above have shown that it will continue to prevail as one of the top contenders in the streaming industry.